Cummins (NYSE:CMI) VP Jennifer Mary Bush Sells 5,000 Shares

Key Points

• Cummins VP Jennifer Mary Bush sold 5,000 shares on May 12 at an average price of $696.21, for proceeds of about $3.48 million. After the sale, she still owned 11,986 shares, and her position was reduced by 29.44%.
• The company recently beat earnings expectations, reporting quarterly EPS of $6.15 versus the $5.63 consensus estimate, while revenue of $8.40 billion also came in slightly above forecasts. Revenue rose 2.7% year over year.
• Cummins announced a quarterly dividend of $2.00 per share, payable June 4 to shareholders of record on May 22. That works out to an annualized dividend of $8.00 per share and a yield of about 1.1%.

Cummins Inc. (NYSE:CMI - Get Free Report) VP Jennifer Mary Bush sold 5,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $696.21, for a total transaction of $3,481,050.00. Following the completion of the sale, the vice president owned 11,986 shares of the company's stock, valued at $8,344,773.06. The trade was a 29.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cummins Trading Up 0.5%

Shares of NYSE CMI traded up $3.47 during mid-day trading on Wednesday, hitting $708.03. The company's stock had a trading volume of 120,849 shares, compared to its average volume of 911,737. The stock has a market cap of $97.70 billion, a price-to-earnings ratio of 36.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. Cummins Inc. has a one year low of $307.90 and a one year high of $718.08. The company's fifty day simple moving average is $593.30 and its 200-day simple moving average is $549.49.

Cummins (NYSE:CMI - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.52. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.96 EPS. On average, sell-side analysts anticipate that Cummins Inc. will post 28.39 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 22nd. Cummins's dividend payout ratio (DPR) is 41.52%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMI. Barclays raised their target price on shares of Cummins from $610.00 to $760.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Evercore reaffirmed an "outperform" rating and issued a $845.00 target price on shares of Cummins in a research note on Monday. Sanford C. Bernstein set a $600.00 target price on shares of Cummins and gave the company a "market perform" rating in a research note on Friday, February 6th. UBS Group set a $565.00 price objective on shares of Cummins and gave the stock a "neutral" rating in a research note on Friday, February 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Cummins from $693.00 to $794.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Cummins presently has a consensus rating of "Moderate Buy" and an average price target of $677.87.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Valmark Advisers Inc. increased its holdings in shares of Cummins by 1.9% in the first quarter. Valmark Advisers Inc. now owns 877 shares of the company's stock valued at $472,000 after buying an additional 16 shares in the last quarter. Nicolet Advisory Services LLC increased its holdings in shares of Cummins by 1.6% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,101 shares of the company's stock valued at $619,000 after buying an additional 17 shares in the last quarter. Uhlmann Price Securities LLC increased its holdings in shares of Cummins by 2.4% in the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company's stock valued at $386,000 after buying an additional 17 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in shares of Cummins by 0.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,738 shares of the company's stock valued at $1,908,000 after buying an additional 18 shares in the last quarter. Finally, Financial Consulate Inc. increased its holdings in shares of Cummins by 16.8% in the fourth quarter. Financial Consulate Inc. now owns 125 shares of the company's stock valued at $64,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.46% of the company's stock.

Key Stories Impacting Cummins

Here are the key news stories impacting Cummins this week:

• Positive Sentiment: Citigroup raised its price target on Cummins (CMI) to $770 from $710 and kept a buy rating, reinforcing the bullish post-earnings setup. Article Title
• Positive Sentiment: Cummins declared a quarterly dividend of $2.00 per share, signaling continued confidence in cash generation and shareholder returns.
• Positive Sentiment: The company’s latest earnings report beat expectations, with EPS of $6.15 versus $5.63 expected and revenue slightly ahead of forecasts, which supports the stock’s recent strength.
• Neutral Sentiment: Multiple analyst notes remain favorable, including a buy rating from Wells Fargo and a strong-buy upgrade from Zacks, which helps validate the move higher but does not add a new business catalyst.
• Negative Sentiment: Several insiders sold shares this week, including Brett Michael Merritt, Nathan Stoner, Bonnie Fetch and Marvin Boakye. While insider sales do not always signal trouble, they can temper investor enthusiasm if the stock is near recent highs.

Cummins Company Profile

Cummins Inc NYSE: CMI is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world's leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company's product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.